Central Garden & Pet jumps on stock buyback plan

GeorgiaWells

SAN FRANCISCO (MarketWatch) -- Lawn and pet supply company Central Garden & Pet Co.
CENTA, -0.16%
shares rose 7.6%, or 69 cents, to $9.79 Friday as the market reacted to its plans to buy back $100 million in shares. The company, which made the announcement after Thursday's closing bell, did not indicate how long it expects to take to complete the plan. The Walnut Creek, Calif.-based company last traded above $9.70 June 7, and bounced between $8.98 and $9.30 over the past five days. The stock is trading 1.5% above where it was a year ago.

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